GBPUSD Respecting former support

FX:GBPUSD   British Pound / U.S. Dollar
It's been a rough ride on the Cable lately. Pair fell 80 pips after the Bear Flag break, rallied 140 pips into the former support zone and was then rejected, falling another 100 pips. Pair is now once again testing the former support zone and appears to be trading in a descending channel . We continue to look for a move into the next support zone above 1.3050. A daily close above the descending channel top at 1.3275 (and falling) would turn us neutral.
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